Jollibee lists Hong Kong IPO instead of New York, raising US$4.3 billion potential for Southeast Asian firms
Philippine giant Jollibee chooses the Chinese city for its international spin-off listing over New York. HKEX leadership notes more than 150 Southeast Asian companies are currently listed in Hong Kong, collectively raising more than US$4.3 billion.
Jollibee Foods Corp (JFC) confirmed on Tuesday it will list Jollibee Foods Corporation International (JFCI) in Hong Kong rather than the United States. In January, the company stated its intention to list the overseas arm in New York. The board now cites Hong Kong's market depth and investor relevance as key factors supporting long-term ambitions for the international division. JFC also highlighted that the stock exchange provides access to a broad base of global and regional investors capable of funding expansion beyond Asia. HKEX CEO Bonnie Chan Yiting noted in April that over 150 Southeast Asian firms are listed in the region, having raised more than US$4.3 billion in total.
